Automated pricing research provides insights into what customers are willing to pay for your products & services while maintaining healthy profit margins.
How high can we increase prices before losing market share?
How much can we charge for varying portion sizes?
What is the acceptable price range for our new product innovation?
Types of Pricing Research
Van Westendorp/ Price Sensitivity Meter
A Price Sensitivity Meter (PSM) is used to investigate different price perceptions and the price limits consumer's place in relation to a specific product or service.
A PSM is one of the pricing research methods quantilope has automated on its Insights Automation platform to deliver pricing insights in just a few days.
PSM is great for
Earlier-stage research
Lower-priced products
Familiar/non-niche products
Check out a brief PSM demo in the video to the left!
Choice-Based Conjoint
Regarded as one of the most sophisticated pricing research methodologies, a Choice-Based Conjoint (CBC) uncovers the relative importance of price in relation to other features, with the ability to test multiple attributes at once and closely mimic a real-world environment.
In addition to PSM shown above, quantilope also offers an automated CBC as a pricing research methodology.
CBC is great for
Understanding the relative importance of price in relation to other features
Determining which combination of features is optimal
Measuring a competitive environment
For a brief demo of the CBC method, watch the video to the right!
To learn how quantilope makes pricing research simple and accessible through the automation of various pricing methods, download TheUltimate Guide to Automated Pricing Research.
This guide serves as a resource for brands looking to explore price sensitivity, price perceptions, willingness to pay, and more.
